USD/JPY trims losses after US jobless claims

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - USD/JPY edged slightly up but remain overall within its daily range following the release of better-than-expected jobless claims data.

    US initial jobless claims fell to 263K in the week ending Oct 2, posting its lowest level since mid July and below the 274K expected.

    The dollar pick up some pace and managed to trim intraday losses against the yen. USD/JPY climbed to a session high of 119.95 but lacked strength to regain the 120 mark. At time of writing, the pair is trading at 119.90, little changed on the day.

    Next on tap, the Fed will release latest meeting minutes during the American afternoon, while members Bullard and Williams are due to speak.

    USD/JPY technical levels

    In terms of technical levels, USD/JPY could find next resistances at 120.09 (Oct 8 high/100-hour SMA), 120.35 (Oct 7 high) and 120.55 (Oct 6 high) ahead of 120.87 (200-day SMA). On the other hand, supports are seen at 119.62 (Oct 8 low), 129.24 (Sep 29 low) and 118.67 (post-NFP low Oct 2).
    For more information, read our latest forex news.

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